Almost one-third of the people who work in Bulgaria pay minimum wage social security contributions, or below, according to the National Social Security Institute. That is the reason why pensions in the country are low, they say.
In April the total number of people in Bulgaria with social security was a mere 2.775 million, the rest are children, young people, pensioners, unemployed, housewives, or people who are not looking for a job. 30% pay social security on monthly incomes of below 330 euro, 724,000 people – on monthly incomes of between 330 and 509 euro. This means that 1.584 million people, or over 57% of all people with social security pay contributions for a monthly income of below 509 euro. The number of pensioners in the country is over 2 million. That is the reason why there is always a deficit in the budget of the National Social Security Institute and a large portion of the pensions are paid out of the state treasury, i.e. with taxpayers’ money.
Deposits in banks for the first quarter of 2024 have reached a record level of 75.4 billion euros. From January to March, deposits grew by EUR 1.35 billion or by 1.8%. The rise is mainly due to increased household deposits, the..
Although bilateral trade reached nearly $4 billion last year, there are still untapped opportunities to further increase Bulgarian exports to China. This was made clear at a meeting between the Minister of Economy and Industry, Mr. Petko Nikolov, and..
Housing loans in Bulgaria increased by 24.8% year-on-year, reaching BGN 22.3 billion (EUR 11.4 billion) by the end of June 2024, according to the BGNES news agency. Consumer loans also rose by 14% year-on-year compared to June 2023, reaching BGN..
+359 2 9336 661